While a historic 672,300 units scheduled to come online by year-end 2024, current construction trends may shift many additions into 2025 and beyond.

Up to 67,900 units scheduled to be completed this year could extend to 2025 as construction timelines for 10 or more units are at their longest point on record.

• Multifamily construction timelines are slowing nationwide.
• As a result, up to 67,900 units scheduled to be completed this year could extend to 2025.
• The greatest increases in construction timelines are in the West and the South regions of the U.S.
• Contributing to the slowdown in the two regions is the sheer volume of units under construction compared to the Northeast and the Midwest regions.